The Traderszone Network

Published in TZ Latest News 8 February, 2015 by The TZ Newswire Staff

U.S. banks say soaring dollar puts them at disadvantage: WSJ

Last December, the U.S. Federal Reserve proposed that eight of the largest U.S. banks would be required to hold an extra capital cushion and the firms will need more equity if they rely on risky types of debt. Officials from banks including Citigroup Inc, Goldman Sachs Group Inc, Bank of America Corp and Morgan Stanley raised concerns about the rule during a Jan. 7 meeting with Fed officials, the newspaper said, citing people familiar with the gathering. The Fed rule relies on financial data compiled by the Basel Committee that is expressed in euros, which enables regulators to compare U.S.

read more